Eric Watson's Cullen Group has been placed into liquidation by court order over a bill for half-a-million dollars. READ MORE:* Eric Watson has appeal dismissed in latest legal battle with Sir Owen Glenn* Eric Watson's company Cullen Group appeals High Court decision awarding Inland Revenue $51 million* Eric Watson's battles: has the high flyer been brought low? But the Cullen Group arrangement introduced no new funds to New Zealand. On top of the $51m tax owed Justice Palmer also ordered Cullen Group to pay use-of-money, interest and penalties. The Commissioner issued a statutory demand to Cullen Group to pay that debt and then applied to put Cullen Group into liquidation.

Source: Stuff December 19, 2019 01:41 UTC